Key Players in the Europe well intervention market are Archer – The Well Company (Bermuda), Baker Hughes Inc. (U.S.), Schlumberger (U.S.), Halliburton Energy Services (U.S.), and Weatherford (Switzerland).
(PRWEB) December 05, 2014
This report studies the Europeanwell intervention market through the forecast period, 2013 to 2018. The market is expected to reach a value of $3.5billion by 2018, at a CAGR of 7.0% from 2013 to 2018.
Well Intervention typically involves providing services such as stimulation, artificial lift services, logging and bottom hole, and other services, pertaining to the functioning of oil or gas wells. These services are important for the proper and efficient functioning of the wells. The services help maintain the productivity of the wells, which are in operation. Hence, well intervention is an important operation concerning the continuity of output from the wells.
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The Europewell intervention market has been classified in terms ofservices and applications.The services segment is further categorizedinto logging & bottom hole intervention, tubing/packer failure & repair, stimulation, remedial cementing, zonal isolation, sand control, artificial lift, fishing, and re-perforation, among others.The applicationssegment comprisesonshore activities and offshore activities.
The need for energy is forcing oil operators to opt for new exploration and production activities. Hence, E&P companies are focusing on increasing the hydrocarbon reserves basket, with new discoveries, thereby resulting in a continuous rise in the world’s oil & gas reserves. This increase in exploration and production activities is among the main contributors to the expansion of the European well intervention services market. Even though factors such asthe lack of technical expertise and environmental risks are restricting the growth of this market,the growing focus on unconventional reserves offer new growth opportunities for the market players.
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In 2013, Russia was observed to hold the largest share of the European well intervention market, followed by the U.K. However, the well intervention market in Denmark is expected to grow at the fastest CAGR of 8.3% from 2013 to 2018.
Some of the major companies operating in the European well intervention market are Aker Oilfield Services, Halliburton Co., and FMC Technologies, Inc., are the major players in the European well intervention market.
Related Reports :
Global Logging & Bottom Hole Intervention Market
Well logging & bottom hole service is the method of recording and study the in deepness record of the study well record. This practice has been initiated by Schlumberger. This can be finished during any phase such as producing, drilling, completing, and even at the time of abandonment. Well logging is very useful for the entire life of the well as the evaluation is the only means to know the actual conditions of the well. In the global viewpoint, well logging & bottom hole review service market is rising at a high rate. Huge well count in Americas region continues to direct the market growth.
In some of the region there is a necessity for drilling new wells for the renewal of heavy oil. Hence, the market of logging and bottom hole well intervention market is rising at high CAGR.
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